1. industry core logic: AI hardware iteration to drive chemical materials just need to expand capacity.
Global AI computing power continues to expand, GPU, optical module, HBM and other high-power hardware scale landing, continue to drive upstream electronic chemical new materials demand. The current market generally focuses on the terminal hardware track, but ignores the core pain points: most of China's AI supporting chemical materials can achieve small batch samples, but high-end mass production, batch stability, high purity quality control, terminal long-term certification and overseas patent barriers, constitute a substantial supply bottleneck.. Overseas high-end materials have long monopolized the market, while China's local production capacity is accelerating the verification of import, becoming an important incremental variable in the global supply chain.
2. full chain material supply and demand pattern (Chinese market)
chip Manufacturing Materials: China's low-end photoresist self-sufficient, but 7-28nm high-end photoresist, EUV photoresist is highly dependent on Japanese imports, supporting high-end resin, photoinitiator research and development cycle of 6-8 years. High-end photomask substrates, lithography-grade high-purity quartz materials, 12-inch large silicon core production capacity led by overseas enterprises, China's local production capacity is in the climbing expansion stage. In addition, ultra-high-purity electronic special gas, wet electronic chemicals, polishing materials, high-end sputtering targets and other high-frequency consumables, high-end brand imports accounted for a high proportion, domestic substitution space is broad.
HBM Encapsulated Chemical Materials: As the core support of AI high-power chips, ABF carrier board, BT resin, high-end epoxy plastic packaging materials are basically monopolized by Japanese and Taiwanese manufacturers. Among them, the price of spherical silicon micropowder, the key filler of epoxy plastic sealing material, has increased from 20000 yuan/ton to 80000 yuan/ton in recent years, and Chinese enterprises can only supply it in small quantities. Chip adhesive, underfill, photosensitive polyimide and other functional adhesive materials, overseas occupy more than 70% of the market, Chinese manufacturers are in the downstream customer verification stage.
Optical interconnection core material: Adapt to high-speed optical module iteration, indium phosphide substrate, thin film lithium niobate and other core materials supply and demand gap continues to expand, 2026 indium phosphide substrate industry gap of more than 70%,8-inch lithium niobate wafer gap of more than 40%, high-end production capacity concentrated in the United States and Japan enterprises, China's local production capacity is difficult to fill in the short term. At the same time, silicon light SOI wafers, ultra-high purity trimethyl indium, aluminum nitride thermal substrate and other supporting materials, high-end categories still rely on imports.
Thermal Management and PCB Materials: AI high-power chips drive thermal materials just need, high-end aluminum nitride ceramic substrate, thermal interface materials are dominated by Japanese enterprises. China has the world's leading production capacity of synthetic diamond raw materials, but the chip high-end CVD diamond heat sink finishing technology is insufficient, only silicon carbide substrate to achieve global leadership. In the field of high-speed PCB, low dielectric resin, top electronic copper foil, telluride thermoelectric material high-end brand gap is significant, some category gap of 40%-50%.
Five Core Thresholds of 3. Domestic Substitution and Supply Chain Enlightenment
there are clear industry barriers to the landing of new materials in China, which is also a variable that the global supply chain needs to focus on: first, ultra-high purity control, with extremely high threshold for electronic precision clean production and testing; Second, it is difficult to stabilize the yield of large-scale mass production. Third, it is difficult to control the consistency of multi-batch product performance. Fourth, the chip certification cycle lasts for 1-2 years, and the replacement cost of the supply chain is extremely high. Fifth, no imitation space.
Overall, the expansion of global AI computing power continues to raise the demand for high-end chemical materials, overseas supply rigid overlay China's local production capacity accelerated verification, will continue to reshape the global electronic materials trade pattern, long-term good China's high-end new materials supply chain exports and domestic substitution process.
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